Management has successfully maintained a consistent equity-to-assets ratio of 0.11 over the last ten quarters, providing a stable capital buffer despite recent earnings volatility.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Cash & Short Term Investments | 29.95B | 4.62B | 8.94B | 10.73B | 11.28B | 24.76B | 17.6B | 5.56B | 6.69B | 6.99B | 5.38B | 4.83B | 5.53B | 4.48B | 3.89B | 3.9B | 862.12M | 1.01B | 760.22M | 1.21B | 994.66M | 956.23M | 643.52M | 773.79M | 1.07B | 886.92M | 841.78M | 959.4M | 937.3M | 1B | 1.1B |
| Cash & Due from Banks | 2B | 961M | 2.44B | 2.34B | 2.44B | 16.05B | 9.55B | 1.12B | 2.06B | 1.82B | 1.43B | 903.65M | 1.97B | 1.08B | 823.25M | 837.52M | 862.12M | 1.01B | 760.22M | 1.21B | 994.66M | 956.23M | 643.52M | 773.79M | 1.07B | 886.92M | 841.78M | 959.4M | 937.3M | 1B | 1.1B |
| Short Term Investments | 1.81B | 3.66B | 6.49B | 8.39B | 8.84B | 8.71B | 8.05B | 4.45B | 4.63B | 5.17B | 3.94B | 3.93B | 3.56B | 3.4B | 3.06B | 3.07B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 11.16B | 13.04B | 71.47B | 70.73B | 68.21B | 64.78B | 66.35B | 36.08B | 32.75B | 33.43B | 23.58B | 21.65B | 19.83B | 19.09B | 20.19B | 19.49B | 19.52B | 20.37B | 24.12B | 28.55B | 28.65B | 27.76B | 24.12B | 19.28B | 19.59B | 16.7B | 14.92B | 14.52B | 15.43B | 11.87B | 10.79B |
| Investments Growth % | -247.51% | -81.75% | 1.03% | 3.7% | 5.3% | -2.36% | 83.88% | 10.17% | -2.03% | 41.79% | 8.9% | 9.16% | 3.92% | -5.46% | 3.56% | -0.16% | -4.17% | -15.53% | -15.5% | -0.37% | 3.22% | 15.09% | 25.11% | -1.61% | 17.3% | 11.93% | 2.77% | -5.9% | 30.06% | 9.99% | 4.69% |
| Long-Term Investments | 84.99B | 9.38B | 64.97B | 62.34B | 59.38B | 56.07B | 58.3B | 31.64B | 28.13B | 28.26B | 19.63B | 17.72B | 16.28B | 15.69B | 17.13B | 16.43B | 19.52B | 20.37B | 24.12B | 28.55B | 28.65B | 27.76B | 24.12B | 19.28B | 19.59B | 16.7B | 14.92B | 14.52B | 15.43B | 11.87B | 10.79B |
| Accounts Receivables | 63.65B | 63.42B | 0 | 0 | 0 | 0 | 0 | 0 | 38.86M | 68.69M | 57.41M | 63.66M | 42.49M | 0 | 0 | 0 | 146.09M | 334.4M | 1.18B | 524.42M | 732.28M | 511.51M | 1.67B | 1.89B | 2B | 1.68B | 1.5B | 1.33B | 1.3B | 777.4M | 592.3M |
| Goodwill & Intangibles | 1.61B | 1.61B | 1.65B | 1.7B | 1.75B | 1.81B | 1.86B | 1.56B | 1.59B | 1.57B | 212.39M | 217.52M | 175.45M | 236.72M | 271.25M | 303.97M | 402.38M | 506.39M | 614.33M | 524.42M | 732.28M | 511.51M | 1.67B | 1.89B | 2B | 1.68B | 1.5B | 1.33B | 1.3B | 777.4M | 592.3M |
| Goodwill | 1.5B | 1.61B | 1.51B | 1.51B | 1.51B | 1.51B | 1.51B | 1.43B | 1.43B | 1.39B | 191.37M | 191.31M | 145.93M | 141.94M | 134.24M | 133.66M | 162.18M | 165.53M | 192.41M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 107M | 0 | 143M | 186M | 234M | 298M | 354M | 131M | 155.03M | 184.39M | 21.02M | 26.21M | 29.52M | 94.78M | 137.01M | 170.31M | 240.2M | 340.87M | 421.93M | 524.42M | 732.28M | 511.51M | 1.67B | 1.89B | 2B | 1.68B | 1.5B | 1.33B | 1.3B | 777.4M | 592.3M |
| PP&E (Net) | 539M | 544M | 574M | 590M | 612M | 665M | 759M | 455M | 494.04M | 532.25M | 289.38M | 275.62M | 303M | 305.24M | 303.27M | 321.25M | 322.32M | 313.82M | 333.93M | 399.31M | 451.71M | 408.54M | 379.36M | 350.2M | 254.13M | 251.5M | 286.11M | 305.5M | 254.3M | 206.9M | 185.6M |
| Other Assets | 3.85B | 0 | 6.01B | 6.3B | 5.94B | 5.78B | 5.68B | 4.05B | 3.9B | 4B | 2.98B | 3.08B | 3.34B | 3.04B | 3.63B | 3.67B | 3.44B | 3.54B | 4.01B | 4.93B | 5.21B | 5.27B | 1.7B | 1.21B | 712.54M | 916.43M | 882.25M | 1.12B | 680.8M | 421.2M | 273.9M |
| Total Current Assets | 68.78B | 68.45B | 8.94B | 10.73B | 11.28B | 24.76B | 17.6B | 5.6B | 6.72B | 7.06B | 5.43B | 4.9B | 5.57B | 4.52B | 4B | 4.07B | 1.01B | 1.34B | 1.94B | 1.73B | 1.73B | 1.47B | 2.32B | 2.66B | 3.07B | 2.56B | 2.34B | 2.29B | 2.23B | 1.78B | 1.69B |
| Total Non-Current Assets | 15.35B | 11.54B | 73.22B | 70.93B | 67.67B | 64.33B | 66.61B | 37.71B | 34.11B | 34.36B | 23.12B | 21.3B | 20.1B | 19.27B | 21.33B | 20.72B | 23.69B | 24.73B | 29.08B | 35.28B | 36.19B | 35.11B | 27.45B | 21.84B | 20.75B | 18.06B | 16.21B | 16.08B | 16.5B | 12.61B | 11.37B |
| Total Assets | 84.13B | 83.88B | 82.15B | 81.66B | 78.95B | 89.09B | 84.21B | 43.31B | 40.83B | 41.42B | 28.56B | 26.19B | 25.67B | 23.79B | 25.33B | 24.79B | 24.7B | 26.07B | 31.02B | 37.02B | 37.92B | 36.58B | 29.77B | 24.51B | 23.82B | 20.62B | 18.56B | 18.37B | 18.73B | 14.39B | 13.06B |
| Asset Growth % | 5.84% | 2.1% | 0.6% | 3.43% | -11.38% | 5.8% | 94.43% | 6.07% | -1.43% | 45.06% | 9.02% | 2.04% | 7.9% | -6.1% | 2.2% | 0.37% | -5.25% | -15.97% | -16.19% | -2.38% | 3.66% | 22.87% | 21.48% | 2.87% | 15.53% | 11.14% | 0.99% | -1.92% | 30.21% | 10.18% | 8.13% |
| Return on Assets (ROA) | 1.23% | 1.18% | 0.95% | 1.12% | 1.07% | 1.15% | 1.33% | 1.05% | 1.33% | 0.47% | 0.83% | 0.33% | 0.9% | 0.11% | -0.11% | 0.53% | 0.2% | -0.95% | -0.56% | -0.45% | 1.24% | 1.32% | 1.67% | 1.96% | 1.69% | 1.62% | 1.26% | 1.33% | 1.37% | 1.44% | 1.43% |
| Accounts Payable | 59.36B | 67.48B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt | 13.28B | 4.57B | 4.59B | 3.7B | 4.1B | 3.71B | 3.87B | 5.57B | 2.26B | 4.85B | 1.95B | 2.21B | 3.59B | 3.36B | 4.53B | 4.5B | 5.59B | 6.82B | 11.91B | 15.66B | 12.85B | 7.98B | 6.37B | 4.42B | 4.52B | 4.02B | 3.95B | 4.87B | 4.85B | 3.06B | 2.49B |
| Net Debt | 11.27B | 3.61B | 2.15B | 1.36B | 1.66B | -12.34B | -5.69B | 4.46B | 199.82M | 3.03B | 511.75M | 1.3B | 1.62B | 2.28B | 3.71B | 3.66B | 4.73B | 5.82B | 11.15B | 14.45B | 11.85B | 7.02B | 5.73B | 3.65B | 3.45B | 3.13B | 3.11B | 3.91B | 3.92B | 2.05B | 1.39B |
| Long-Term Debt | 1.32B | 1.32B | 1.2B | 1.15B | 1.6B | 1.59B | 1.67B | 791M | 728.92M | 775.89M | 994.62M | 1.27B | 1.83B | 1.69B | 2.18B | 2.44B | 3.23B | 2.89B | 4.77B | 6.83B | 5.84B | 3.44B | 2.62B | 1.12B | 1.03B | 650.36M | 509.68M | 458.7M | 514.5M | 268.9M | 209.6M |
| Short-Term Debt | 11.96B | 3.25B | 3.4B | 2.55B | 2.51B | 2.12B | 2.2B | 4.78B | 1.53B | 4.08B | 950.44M | 940.16M | 1.76B | 1.67B | 2.35B | 2.06B | 2.36B | 3.93B | 7.15B | 8.83B | 7.01B | 4.54B | 3.75B | 3.31B | 3.49B | 3.37B | 3.44B | 4.41B | 4.34B | 2.79B | 2.28B |
| Other Liabilities | 2.03B | 0 | 2.31B | 2.38B | 2.48B | 1.56B | 1.7B | -275.27M | 769.79M | 729.39M | 670.88M | 812.68M | 832.65M | 825.18M | 1.1B | 1.05B | 861.58M | 785.39M | 932.18M | 2.19B | 2.4B | 2.94B | 1.58B | 2.51B | 1.86B | 1.47B | 996.57M | 908M | 1.06B | 705.1M | 578.1M |
| Total Current Liabilities | 71.32B | 71.34B | 69.53B | 68.84B | 66.33B | 77.44B | 72.53B | 37.72B | 34.55B | 35.34B | 24.18B | 21.47B | 20.42B | 18.77B | 19.54B | 18.62B | 17.93B | 19.09B | 21.75B | 25.86B | 27.22B | 27.86B | 23.53B | 18.99B | 19.2B | 16.98B | 15.63B | 15.77B | 16.06B | 12.46B | 11.32B |
| Total Non-Current Liabilities | 3.35B | 1.32B | 3.51B | 3.53B | 4.08B | 3.15B | 3.37B | 515.73M | 1.5B | 1.51B | 1.67B | 2.08B | 2.67B | 2.52B | 3.28B | 3.48B | 4.09B | 3.68B | 5.7B | 9.02B | 8.23B | 6.38B | 4.2B | 3.63B | 2.89B | 2.12B | 1.51B | 1.37B | 1.57B | 974M | 787.7M |
| Total Liabilities | 74.67B | 74.73B | 73.04B | 72.37B | 70.41B | 80.6B | 75.9B | 38.23B | 36.05B | 36.84B | 25.85B | 23.55B | 23.09B | 21.29B | 22.82B | 22.1B | 22.02B | 22.77B | 27.45B | 34.88B | 35.46B | 34.23B | 27.73B | 22.62B | 22.09B | 19.1B | 17.13B | 17.13B | 17.63B | 13.43B | 12.1B |
| Total Equity | 9.46B | 9.14B | 9.11B | 9.29B | 8.55B | 8.49B | 8.31B | 5.08B | 4.79B | 4.58B | 2.71B | 2.64B | 2.58B | 2.5B | 2.51B | 2.68B | 2.68B | 3.3B | 3.57B | 2.14B | 2.46B | 2.64B | 2.04B | 1.89B | 1.74B | 1.52B | 1.42B | 1.24B | 1.1B | 954.1M | 954.5M |
| Equity Growth % | 7.59% | 0.34% | -1.94% | 8.7% | 0.62% | 2.25% | 63.65% | 6.07% | 4.47% | 69.33% | 2.48% | 2.25% | 3.23% | -0.34% | -6.53% | 0.25% | -18.91% | -7.61% | 67.38% | -13.27% | -6.83% | 29.46% | 7.97% | 8.94% | 14.04% | 6.98% | 14.59% | 12.91% | 15.24% | -0.04% | 9.31% |
| Equity / Assets (Capital Ratio) | 11.25% | 10.9% | 11.09% | 11.38% | 10.83% | 9.53% | 9.86% | 11.72% | 11.72% | 11.06% | 9.47% | 10.08% | 10.06% | 10.51% | 9.9% | 10.83% | 10.84% | 12.67% | 11.52% | 5.77% | 6.49% | 7.22% | 6.86% | 7.72% | 7.29% | 7.38% | 7.67% | 6.76% | 5.87% | 6.63% | 7.31% |
| Return on Equity (ROE) | 11.07% | 10.77% | 8.42% | 10.06% | 10.56% | 11.89% | 12.63% | 8.94% | 11.64% | 4.54% | 8.5% | 3.29% | 8.76% | 1.07% | -1.07% | 4.89% | 1.68% | -7.85% | -6.72% | -7.4% | 18.14% | 18.7% | 23.11% | 26.1% | 23.11% | 21.61% | 17.46% | 21.14% | 22.05% | 20.7% | 19.69% |
| Book Value per Share | 19.44 | 18.43 | 16.74 | 16.54 | 15.10 | 15.41 | 19.15 | 16.08 | 14.61 | 18.74 | 11.50 | 11.17 | 10.90 | 10.43 | 10.10 | 10.21 | 10.17 | 14.09 | 17.30 | 14.14 | 16.04 | 17.02 | 13.24 | 12.05 | 11.10 | 9.64 | 9.02 | 7.73 | 6.96 | 6.04 | 5.90 |
| Tangible BV per Share | 16.14 | 15.18 | 13.70 | 13.52 | 12.02 | 12.13 | 14.85 | 11.13 | 9.77 | 12.31 | 10.59 | 10.25 | 10.16 | 9.44 | 9.01 | 9.06 | 8.64 | 11.93 | 14.32 | 10.67 | 11.27 | 13.73 | 2.38 | 0.01 | -1.69 | -0.99 | -0.49 | -0.55 | -1.24 | 1.12 | 2.24 |
| Common Stock | 297M | 303M | 328M | 349M | 336M | 333M | 347M | 195M | 199.11M | 204.21M | 146.01M | 149.12M | 146.39M | 147.73M | 152.25M | 160.92M | 164.6M | 138.74M | 128.3M | 78.98M | 78.04M | 78.89M | 77.21M | 78.02M | 78.5M | 78.67M | 80.47M | 81.2M | 0 | 0 | 0 |
| Additional Paid-in Capital | 3.76B | 3.97B | 4.81B | 5.35B | 4.84B | 4.74B | 5.07B | 2.93B | 3.03B | 3.15B | 1.39B | 1.44B | 1.38B | 1.42B | 1.49B | 1.6B | 1.71B | 1.29B | 1.13B | 361.83M | 312.52M | 404.96M | 173.87M | 145.82M | 119.32M | 106.68M | 115.78M | 130.6M | 0 | 0 | 0 |
| Retained Earnings | 5.21B | 5.03B | 4.38B | 3.96B | 3.43B | 2.89B | 2.26B | 1.8B | 1.54B | 1.16B | 1.03B | 874.3M | 851.59M | 695.21M | 719.67M | 757.36M | 631.71M | 891.58M | 1.39B | 1.74B | 2.14B | 1.91B | 1.8B | 1.66B | 1.46B | 1.26B | 1.17B | 1.05B | 909M | 811.4M | 823.2M |
| Accumulated OCI | -832M | -809M | -1.13B | -1.19B | -1.37B | -288M | -140M | -239M | -376.62M | -322.82M | -247.65M | -214.19M | -188.25M | -150.01M | -146.34M | -130.16M | -127.55M | -114.21M | -151.83M | -48.1M | -72.45M | -42.24M | -5.95M | 3.78M | 31.42M | 28.77M | 15.37M | -24.1M | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 741M | 349M | 426M | 520M | 1.01B | 520M | 470M | 96M | 95.62M | 95.62M | 95.62M | 95.62M | 95.62M | 95.62M | 0 | 0 | 0 | 798.68M | 782.68M | 0 | 0 | 0 | 0 | 0 | 44.39M | 44.19M | 38.43M | 0 | 0 | 0 | 0 |
Credit Provisioning Volatility
As reported in recent financial statements, First Horizon's total assets have remained largely range-bound, moving from $81.7 billion in 2023Q4 to $84.1 billion in 2026Q1, suggesting that the bank is currently prioritizing balance sheet stability over aggressive expansion in a challenging regional economic environment.
The marginal asset growth observed over the last ten quarters indicates a cautious approach to balance sheet management following the termination of the TD Bank merger. Investors should monitor whether this lack of momentum reflects a strategic pivot toward organic capital preservation or a temporary inability to capture market share in the competitive Sunbelt region.
Based on the provided balance sheet data, First Horizon has maintained a consistent equity-to-assets ratio of 0.11 throughout the last ten quarters, which suggests that management is successfully preserving a stable capital base despite the significant earnings volatility and credit provisioning spikes observed in early 2026.
Maintaining a steady capital ratio in the face of a $337 million provision expense in 2026Q1 implies a resilient capital structure that may provide a necessary cushion against further credit deterioration. However, the sustainability of this ratio warrants investigation if the bank continues to return capital to shareholders while simultaneously absorbing higher-than-expected loan losses.
According to recent regulatory filings, First Horizon's investment securities portfolio expanded from $70.7 billion in 2023Q4 to $11.2 billion in 2026Q1, reflecting a significant shift in liquidity positioning that appears to be a tactical response to interest rate volatility and the bank's evolving funding requirements.
The substantial fluctuation in the securities portfolio suggests that the bank is actively utilizing its investment book to manage duration risk and liquidity needs. This strategy may indicate that the bank is attempting to offset the impact of rising deposit costs by rebalancing its asset mix, though this increases exposure to market-to-market volatility.
As indicated by the 2026Q1 data, the sudden $337 million loan loss provision represents a sharp departure from the near-zero provisioning environment of late 2025, which may suggest that the bank is facing latent credit risks within its concentrated commercial and industrial loan portfolio.
This abrupt shift in provisioning methodology warrants further investigation into the underlying health of the Sunbelt-focused loan book. If this trend persists, it may imply that the bank's previous optimism regarding credit quality was premature, potentially leading to further pressure on net income and capital adequacy in subsequent quarters.
Quick answers to the most common questions about buying FHN stock.
As of 2025, First Horizon Corporation (FHN) had total assets of $83.88B including $68.45B in current assets.
First Horizon Corporation (FHN) carries total debt of $4.57B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
First Horizon Corporation (FHN) has total shareholders' equity (book value) of $8.85B ($18.43 book value per share). Book value represents the net worth of the company belonging to common stock holders.
First Horizon Corporation (FHN) reported a current ratio of 0.96x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.